Beacon Pointe Advisors LLC Invests $261,000 in Veeva Systems Inc. (NYSE:VEEV)

Beacon Pointe Advisors LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,243 shares of the technology company's stock, valued at approximately $261,000.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co increased its position in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the fourth quarter worth $31,000. Finally, Avion Wealth increased its position in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

VEEV stock traded down $2.93 during trading on Friday, reaching $236.60. 977,455 shares of the stock traded hands, compared to its average volume of 1,085,187. The business's 50 day moving average price is $227.98 and its 200-day moving average price is $225.39. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $38.49 billion, a PE ratio of 58.42, a P/E/G ratio of 1.89 and a beta of 0.96.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,869 shares of company stock valued at $1,284,917. Company insiders own 10.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. KeyCorp dropped their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Scotiabank raised their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Stephens reissued an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Morgan Stanley raised their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.92.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.